With the Chinese stock market tumbling during the past week, gaming analysts say the impact will be felt on gaming floors in Las Vegas and Macau, as the Chinese New Year approaches.
The Chinese government already initiated a crackdown on its citizens leaving the country to gamble in Macau and Las Vegas, which resulted in reduced gaming revenues in general and baccarat in particular. And gaming analysts expect the current volatility in the Chinese stock market to exacerbate the problem, as Chinese investors lose money and have less to spend on gambling trips abroad.
Normally, the upcoming Chinese New Year celebration is a very busy one in Macau and to a lesser extent in Las Vegas, but the poorly performing and highly volatile Chinese stock market certainly will reduce the number of anticipated visitors over the holiday, gaming analysts say.
Compounding the problem, the Chinese New Year traditionally is a time when Chinese people settle their financial debts for the year. With the stock market down, that means there will be much less discretionary income for Chinese citizens to use for entertainment.
